TRON’s Justin Sun, who’s also the owner of BitTorrent, has once again proven the impact his influence has over the price of BitTorrent Token (BTT). Most recently, Sun tweeted that there is a big announcement coming up and the price of BTT surged with over 16 percent on the day. Interestingly enough, he didn’t even hint at what the announcement is.
Justin Sun on TRON and BitTorrent: “Something Huge” is Going On
Justin Sun is quite famous for his activity on crypto Twitter, constantly updating his followers about what’s going and what’s about to happen to his projects.
Today, however, he did something quite different – he announced that there is an announcement coming, without even hinting at what’s it about.
— Justin Sun (@justinsuntron) May 26, 2019
What is more, he also said that there is a 70 percent chance of whatever it is that he has in mind to take place, meaning that it’s not even certain.
Regardless of the fact that, essentially, he didn’t reveal a thing, the price of BitTorrent Token (BTT), surged following the tweet. At one point of the day, the price was up more than 16 percent, which shows the influence Sun and his popularity has on it.
But Is This Right?
It has become somewhat customary for executives of cryptocurrency and blockchain-based projects to hype their communities with information, and there’s nothing wrong about that. It’s entirely alright for companies to state positive facts and to disclose developments associated with their work.
However, there’s a fine line between stating positive facts and misleading the community that such developments may or may not take place in the future.
Sun’s latest tweet, for example, doesn’t provide any concise information, but merely says that something “huge” has a 70 percent chance of happening and this immediately reflected on the price of BTT.
Looking at traditional companies, we can see that these sorts of things are very carefully monitored by the regulating authorities such as the US Securities and Exchange Commission. Just last year, Elon Musk got sued for tweeting this intention to take Tesla private and that funding has been secured. The SEC accused Musk of making “false and misleading” statements.
In other words, it’s particularly important to be careful with the way information is being presented to the community in order to avoid speculation and unjustified price surges.